Baku: Azeri Light (CIF) crude oil from Azerbaijan has slightly declined in price on global markets. The price of one barrel of Azerbaijani oil decreased by USD 0.04, or 0.06%, to USD 71.71.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at USD 71.75. It is noteworthy that Azerbaijan’s state budget for this year is calculated based on an average price of USD 65 per barrel of Azeri Light crude oil.